NEW DELHI: Select base metals led by copper continued their slide in the wholesale non-ferrous metal market today largely in tandem with a weakening overseas trend amid subdued demand from consuming industries.
Traders said weak trend in the entire base metals at the London Metal Exchange after the Federal Reserve lowered its growth forecast for the US, raising concern about weaker demand for metals, mainly put pressure on the prices here.
Meanwhile, copper for three-month delivery declined by 0.5 per cent to USD 8,971 and nickel shed 1.1 per cent to USD 21,900 a tonne at the London Metal Exchange.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were down by Re 1 each to Rs 501, Rs 524 and Rs 484 per kg, respectively.
In line with general trend, nickel (4x4) lost Rs 5 to Rs 1,050-1,052 per kg on weak overseas trend and fall in demand from alloy makers.
Lead ingot and lead imported also traded lower by Rs 2 each to Rs 138 and Rs 141 per kg, respectively.
Following were today's quotations Rs per kg: Tin ingot 841, zinc ingot 131.50, nickel plate (4x4) 1,050-1,052, gun metal scrap 226 bell metal scrap 228, copper wire scrap 501, copper wire bar 524, copper mixed scrap 484, Utensil scrap 224, Chadripital 175.
Lead ingot 138, lead imported 141, aluminium ingots 110, sheet cutting 111, aluminium wire scrap 110 and aluminium utensils scrap 107.
